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Gold technical charts now point to the price hitting $3,000 an ounce post-QE3

Posted on 17 September 2012 with 3 comments from readers

Take a look at this new segment from Bloomberg TV with Mia Saini looking at the technical chart for gold which now points to an easy ascent to $3,000 an ounce, a target only recently dismissed as fantasy by some analysts. ArabianMoney wonders what that means for silver, $100 an ounce?

Gold stocks are also likely to benefit. ‘The way the global economy is heading, gold ought to be a very prudent long-term bet,’ concludes Ms. Saini…

Posted on 17 September 2012 Categories: Gold & Silver, Investment Gurus, Video Channel

3 Comments posted by readers:

Comment by Bill on Clearwood - 17 September 2012

I give it about two years to hit $3,000. Numerous black swans could derail it for a while. Ben didn’t do what he did because the global economy is in great shape. Obama just announced he is going after China for auto parts. And Romney has BEEN trashing them.

Comment by Tears of the Moon - 17 September 2012

Nice pennant flag formation breakout :-0

Anyone else notice the talking head say at the 1:44 mark that Gold was a non-liquid asset?

Hasn’t Gold been the ultimate liquid asset for the last 5,000 years? and no doubt will be for the next 5,000 – something the US$ will never achieve.

Comment by James M - 18 September 2012

> “… Anyone else notice the talking head say at the 1:44 mark that Gold was a non-liquid asset? ”

Yes, it stood out like a sour note, a liquid asset being anything that can be turned easily into cash, unlike the pile of lumber i have sitting in my garage. She misspoke.

By the time Bloomberg TV talking heads eventually understand gold, it will be on a jaw-dropping eye-popping curve upward. I can’t wait.

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